Weekly fall in supplies exceeds analysts’ predictions
- U.S. natural-gas supplies in storage declined by 117 billion cubic feet
- Analysts expected a weekly fall of 105 billion cubic feet
- Total working gas in storage is above the five-year average
The U.S. Energy Information Administration reported that U.S. natural-gas supplies in storage declined by 117 billion cubic feet, surpassing analysts’ expectations of a 105 billion cubic feet fall. Total working gas in storage remains above the five-year average, with 3.719 trillion cubic feet in storage. This news has led to a slight increase in natural gas prices, with January natural gas trading at $2.585 per million British thermal units on the New York Mercantile Exchange.
Factuality Level: 8
Factuality Justification: The article provides factual information about the U.S. natural-gas supplies in storage and includes data from the U.S. Energy Information Administration. The information is supported by the average forecast of analysts surveyed by S&P Global Commodity Insights. The article also includes the current price of natural gas on the New York Mercantile Exchange. However, the article does not provide any context or analysis beyond the reported data.
Noise Level: 8
Noise Justification: The article provides relevant information about the decline in U.S. natural gas supplies and includes data on storage levels. However, it lacks analysis, context, and actionable insights. It mainly focuses on reporting the numbers without delving into the implications or potential consequences of the decline.
Financial Relevance: Yes
Financial Markets Impacted: Natural gas markets
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial topic of natural gas supplies and their impact on prices in the market. There is no mention of any extreme events.
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